Published on Sep 03, 2023
This project is all about the E-Branding strategy adopted by company in today’s fast moving world & how they expand their market, how they reach to their customer & give them an easy way to do business & thus establish better relationship by providing then time saving & fast online business opportunity. Now the marketing over internet which is becoming most effective way of promoting any business with minimum cost and maximum reach to target customer.
So in this report you will see discussion about how actually e-Marketing should be done and with more strategies of e-marketing. Also all forms of e-Marketing is described which will help to understand the topic in detail.
E-commerce began to grow very quickly once methods to securely provide your credit card number became available. Consumers could now order products right from their home. Companies could reach customers all over the world. Online auction sites became very popular as people could sell their items to each other for a small fee. There also was an increased use of the internet as a source of advertising. Companies began to place ads on other websites to promote their products. Today pay per click advertisements benefit both the publishers of the websites and the company which has goods to sell. Affiliate programs are also very popular.
They allow website owners to advertise products on their website and if a customer purchases the item, then the website owner gets a percentage of the sale. The internet has even been used as a primary source of advertising. Companies have created innovative advertising programs, sometimes referred to as viral marketing. Viral marketing seeks to create a buzz about a product through word of mouth. Some viral marketing plans even use alternate reality games in order to promote a particular product. The Internet is changing the way we do business, the way we market, sell, service, distribute, communicate, and work. Businesses are already beginning to communicate with customers, distributors, suppliers, shareholders, and employees in a way that is truly one-to-one and real-time.
“Personalized” web sites are delivering tailored messages to an infinite number of target markets. These sites can change based on the user’s buying and surfing habits, past usage of the site, demographics, relationship to the company, and a multitude of other attributes which could be collected from the users online or culled from corporate legacy databases. The Internet has also become the most economical distribution system of information available. Companies can ship “bits” weightless electrons around the world at the speed of light, for a fraction of what it costs to ship heavy “atoms” at the speed of freight. In just a few years the Internet will be as essential of a business tool as what the phone and FAX are today. Intranets, real-time transaction processing, and “customer self-service” are just the beginning. We are transitioning from static sites to dynamic and personalized sites, from broadcasting to narrow Casting, from information dissemination to actual commerce.
Objectives of the Project
To study the impact of marketing activity over Internet
To study the sales promotion programs on Hikepar League.
To study the build and retain brand loyalty.
To study to introduce new product.
To study to attract new customer.
To raise awareness of the company, product, or service within a clearly identified target market
To communicate the benefits of the product or service
This study helps to understand the about the concept of e-Marketing. The study will help the management of Hikepar League in forming the future policies regarding sales promotion strategy. This is like descriptive method of understanding about how to promote your products or services while using internet. It will also describe what are the methods and strategies of e-Marketing with advantages and disadvantages also.
The e-Marketing Strategy is normally based and built upon the principles that govern the traditional, offline Marketing - the well-known 4 P's (Product - Price - Promotion - Positioning) that form the classic Marketing mix. Add the extra 3 P's (People - Processes - Proof) and you got the whole extended Marketing mix. Until here, there are no much aspects to differentiate e-Marketing from the traditional Marketing performed offline: the extended Marketing mix (4 + 3 P's) is built around the concept of "transactional" and its elements perform transactional functions defined by the exchange paradigm.
What gives e-Marketing its uniqueness is a series of specific functions, relational functions, that can be synthesized in the 2P + 2C+ 3S formula: Personalization, Privacy, Customer Service, Community, Site, Security, Sales Promotion. These 7 functions of the e-Marketing stay at the base of any e Marketing strategy and they have a moderating character, unlike the classic Marketing mix that comprises situational functions only. Moderating functions of e-Marketing have the quality of moderate operate upon all situational functions of the mix (the classic 4 P's) and upon each other.
The fundamental concept of personalization as a part of the e-Marketing mix lies in the need of recognizing, identifying a certain customer in order to establish relations (Establishing relations is a fundamental objective of Marketing). It is crucial to be able to identify our customers on individual level and gather all possible information about them, with the purpose of knowing our market and be able to develop customized, personalized products and services.
For example, a cookie strategically placed on the website visitor's computer can let us know vital information concerning the access speed available: in consequence, if we know the visitor is using a slow connection (eg. dial-up) we will offer a low volume variation of our website, with reduced graphic content and no multimedia or flash applications. This will ease our customer's experience on our website and he will be prevented from leaving the website on the reason that it takes too long to load its pages. Personalization can be applied to any component of the Marketing mix; therefore, it is a moderating function.
At least but not last, we have to consider sales promotions when we build an e-Marketing strategy. Sales promotions are widely used in traditional Marketing as well, we all know this, and it is an excellent efficient strategy to achieve immediate sales goals in terms of volume. This function counts on the marketer's ability to think creatively: a lot of work and inspiration is required in order to find new possibilities and new approaches for developing an efficient promotion plan.
On the other hand, the marketer needs to continuously keep up with the latest internet technologies and applications so that he can fully exploit them. To conclude, we have seen that e-Marketing implies new dimensions to be considered aside of those inherited from the traditional Marketing. These dimensions revolve around the concept of relational functions and they are a must to be included in any e- Marketing strategy in order for it to be efficient and deliver results.
E Marketing Strategies
• The Offer: Product strategies – Existing products sold online or new products offered to the customers
• The Value: Pricing strategies – Dynamic pricing and Online bidding
• Distribution strategies – Direct marketing and Agent E Business models
• Marketing Communication strategies
• Relationship Management strategies – CRM software + customer behavior = comprehensive database
6 Simple Steps to Start E-Marketing
Starting e-Marketing is easy but walking on the right path is not so easy. There are just too many options you can consider! However, typically I would recommend my clients to follow 6 simple steps to plan and start doing e-Marketing and they are:
1. Building Effective Website
2. Designing Compelling Messaging
3. Sending Strategic Newsletters
4. Online Advertising
5. Managing Customer Databases
6. Building Alliances
(1)Building an Effective Website-
I have shared in other articles how important it is a website for e-Marketing to be successful. It is not only design and layout but also the real business strategy behind. You have to consciously to make your website effective for your business and engaging your customers interactively. A website will 24 only perform well when it is being revised and updated according to the environmental changes with Compelling Messaging.
(2)Designing Compelling Messaging -
It is really back to marketing basics about communications. You have to high play your products/services' benefits rather than functionality in order to distinguish your differential advantages over your competition. A lot of time, customers' buying decisions are based on trusts that built on the success references you are giving of other cases. Before you get this right, e-Marketing will never be a success.
(3)Sending Strategic Newsletters -
e-Newsletters are so easy to send out if you have any emails of our suppliers, partners, customers and prospects. However, your compelling messaging must be ready before your e-Newsletters can be successful. In additional, you need to send out useful information or knowledge occasionally other than sales promotions in order to attract your target audience to keep subscribing your newsletter.
(4)Online Advertising -
The most basic Online Advertising option I recommend is Search Engine Marketing. It is becoming mandatory for any companies nowadays to make sure their company information/advertisements are showing on the first page of search results. Without doing this, your website will just never be found in a very long while, Other Online Advertising options can be Web Banner Ad on your target customers populated websites or contextual advertising, etc.
(5)Managing Customer Databases -
When you start doing e-Marketing, the next important thing is to keep up with your customer database(s). This is very crucial because your customer database will grow throughout your e-Marketing activities. The most basic way to do this is to use Excel or Outlook or any other mail clients but as you grow your customer database, it is better to adopt Customer Relationship Management software or an e-Marketing campaign software.
(6)Building Alliances -
No one can be successful by doing e-Marketing alone and this is the fact! Hence, building alliances and letting your alliances to promote your products/services in their websites and other channels are the very key to success with e-Marketing. You potential return on investment (ROI) will grow even better than you can imagine.
Opportunities of E-Marketing
1. Incremental revenues
The internet is a level playing field in terms of sales and marketing
Everyone can attract new clients through very targeted and measurable marketing
Global distribution reach is available to all, not just the major brands that have global networks
2. Reduced cost of sale
A brand web site has the lowest cost of sale
Enables business to be “channel shifted” from more expensive channels, such as travel agency or call centers
3. Enhanced brand loyalty and client relationships
A direct client should be retained for future marketing and relationship building
A customer booking through an OTA is likely to remain loyal to the booking channel
Actively seek to build relationships with clients delivered through OTAs for future, cheaper marketing